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Dec 30, 2012
12/12
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>> it is, and we're talking about the fiscal cliff. we are really dealing with is the fiscal fraud. we fell f the cliff along time ago. we are in the best, $16 trillion in debt. a debt our children and grandchildren will never be able to pay off, a total fraud, not dealing with spending, and unle they do we are not going to fix the problems is a country is facing. tom: same point, i mean, is this something that will start tuesday or have businesses and individuals already started be having different because of the fact that this whole process was coming up in addition to what the congressman was talking about? >> certainly was tree has been reacting to this, but i very much disagree about the causes. that is when we extended tax cuts do so wealthy individuals in 2001 and three did not need themnd then we saw an incredible decrease in revenue as a result of wall street tanking our economy in the 2008 economic downturn. it's not an issue so much of expanding -- expanded spending. spending is not a control. what is happening is revenue has declined. we need to not only increase the rev
>> it is, and we're talking about the fiscal cliff. we are really dealing with is the fiscal fraud. we fell f the cliff along time ago. we are in the best, $16 trillion in debt. a debt our children and grandchildren will never be able to pay off, a total fraud, not dealing with spending, and unle they do we are not going to fix the problems is a country is facing. tom: same point, i mean, is this something that will start tuesday or have businesses and individuals already started be...
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Dec 6, 2012
12/12
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CNBC
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what impact is the fiscal cliff having? >> it's impacting the level of activity in the final quarter of 2012. we are seeing acceleration. if we look at volume and values of deals in october and november, we popped up 10%, 15% above the average after the previous nine months. so i think if you were contemplating the deal between september of this year and march of next, the likelihood is you'll try to pull it forward to try to take advantage of the capital gains tax certainlily. >> so if you're rushing through this year, there will be a lull in the first quarter. >> yeah. i agree. i think we will potentially see a lull in the first quarter. but on the assumption that we do get past the fiscal cliff with successful resolution, which i think we're all optimistic we will, i think fundamentals are strong. we have corporate balance sheets still strong. we have private equity with a lot of available cash. and general improvement in confidence. and i think with the certainty of -- the uncertainty of the presidential election behind
what impact is the fiscal cliff having? >> it's impacting the level of activity in the final quarter of 2012. we are seeing acceleration. if we look at volume and values of deals in october and november, we popped up 10%, 15% above the average after the previous nine months. so i think if you were contemplating the deal between september of this year and march of next, the likelihood is you'll try to pull it forward to try to take advantage of the capital gains tax certainlily. >>...
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Dec 4, 2012
12/12
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CNBC
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fiscal cliff. i think people know there will be some type of resolution. we didn't know the details or when. but companies are still investing the way they would normally do and they're not stopping because of -- >> that doesn't make us quake a bit about the jobs report later this will week and what that does for investors' nerves? >> we know it will be worse than it would have been because of super storm sandy. so you didn't know how much it was to do with that and how much was the economy. so it will be a bit of a wash in terms of reading the tea leaves for the u.s. >> so the growth picture for the u.s., we sort of 1%, 2%, depending on what happens with the fiscal cliff. what do you think, 2.5%? >> yeah, i think we should be 2.5% to 3% by the end of next year. >> which might be a slightly better outturn. china seems to be back on track. is there anything in europe -- what's the tail risk at the moment? >> i think there's two things that could still go wrong in europe. one, there's always politica
fiscal cliff. i think people know there will be some type of resolution. we didn't know the details or when. but companies are still investing the way they would normally do and they're not stopping because of -- >> that doesn't make us quake a bit about the jobs report later this will week and what that does for investors' nerves? >> we know it will be worse than it would have been because of super storm sandy. so you didn't know how much it was to do with that and how much was the...
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Nov 12, 2012
11/12
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is the fiscal cliff a grand canyon or more of a fiscal mole hill. join the conversation. worldwide at cnbc.com, @cnbcw , cnbc.com, @cnbcwex, @ rosswestgate, @kelly_evans. kelly will be back with us during the second half with the chatham house. after losses last week of around 1.6% for the ftse, 2.% for the dax, pretty mixed today. bond yields just coming back a bit for spain. in italy, they're on that 5% mark. they are lower for bunds down at 1.3. currency markets, euro-dollar on the 1.27 mark this morning, sterling slightly weak against the dollar, as well. dollar-yen barely moved after the gdp numbers. we'll keep our eyes on brent and nymex, as well. i can see brent down slightly this morning at $109. and nymex currently tracking lower at $85, as well. platin platinum ticking slightly up. so the oil market report is due. we'll get analysis after the break and talk a lot more about the fiscal cliff. we'll get into tablet wars. second hour of "worldwide exchange" is commencing in just under three minutes. >>> the world's third biggest economy may already be in recession.
is the fiscal cliff a grand canyon or more of a fiscal mole hill. join the conversation. worldwide at cnbc.com, @cnbcw , cnbc.com, @cnbcwex, @ rosswestgate, @kelly_evans. kelly will be back with us during the second half with the chatham house. after losses last week of around 1.6% for the ftse, 2.% for the dax, pretty mixed today. bond yields just coming back a bit for spain. in italy, they're on that 5% mark. they are lower for bunds down at 1.3. currency markets, euro-dollar on the 1.27 mark...
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90
Dec 29, 2012
12/12
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FBC
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eye 90
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well, forget the fiscal cliff. washington might be sending cows washington might be sending cows off a cliff. ♪ music kids will spend 22 minutes watching us, the super duper party troopers, sing about ants in their pants. brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. ♪ tom: washington still fighting over the debt deal. farmers are worried about dairy deal. the farm bill is set to expire at the end of the year along with everything else that is going on. the senate agricultural committee chairwoman pushing for a short-term extension to avert the cliff. but if that does not happen, no prices -- milk prices to go up to $8 per gallon. the supermarket group on how this is going to turn consumers soured. you bet that would. that's about double. >> it is about double. it will increase, hopefully not. you are between three and $4 a gallon. it is not just about melt. this is a food cliff. we talk about the financial cliff. keep in mind, we're
well, forget the fiscal cliff. washington might be sending cows washington might be sending cows off a cliff. ♪ music kids will spend 22 minutes watching us, the super duper party troopers, sing about ants in their pants. brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. ♪ tom: washington still fighting over the debt deal. farmers are worried about dairy deal. the farm bill is set to expire at the end of the year...
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Dec 29, 2012
12/12
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well, forget the fiscal cliff. washington might be sending cows washington might be sending cows off a cliff.nfc, afc, offensive lineman, defensive tackles, quarterbacks and cornerbacks are all working with united way. for a million little reasons. the kids of our communities. to ensure their academic success, all the way to graduation day. it takes about 12 years to create a graduate. it takes the same time to create a dropout. and the difference between a kid becoming one or the other could be professional athlete. or it could be you. studies show, the earlier we get to kids, the better their chances. so become a united way volunteer reader, tutor or mentor. make a difference in the life of a child. for the life of that child. give. advocate. volunteer. live. united. join your favorite nfl players. take the pledge. go to unitedway.org. ♪ tom: washington still fighting over the debt deal. farmers are worried about dairy deal. the farm bill is set to expire at the end of the year along with everything else that i
well, forget the fiscal cliff. washington might be sending cows washington might be sending cows off a cliff.nfc, afc, offensive lineman, defensive tackles, quarterbacks and cornerbacks are all working with united way. for a million little reasons. the kids of our communities. to ensure their academic success, all the way to graduation day. it takes about 12 years to create a graduate. it takes the same time to create a dropout. and the difference between a kid becoming one or the other could...
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again i hate that word fiscal cliff but basically another debt ceiling debate the fiscal cliff is the interesting thing actually just before you into the fiscal cliff it's interest that mexico is actually in latin america the country that's doing the best because they're associated with the united states in terms of the u.s. is pulling them up the u.s. as far as developed economies goes they're doing the best but when the fiscal cliff happens i think that if it actually does come to pass and we fall off the cliff then you know that could be the exogamous shock that creates sort of a negative feedback loop with what's going on in europe in the emerging markets etc so yeah the fiscal cliff is something to watch so our politicians that are elected that category on anything could hold the entire world hostage the world economy in your view but you know let's take a step back i think it's about the philosophical view of what to do when there's too much debt yet at the end of the day you know you'll hear a lot of people on and on though say there's too much debt and that's that's the truth
again i hate that word fiscal cliff but basically another debt ceiling debate the fiscal cliff is the interesting thing actually just before you into the fiscal cliff it's interest that mexico is actually in latin america the country that's doing the best because they're associated with the united states in terms of the u.s. is pulling them up the u.s. as far as developed economies goes they're doing the best but when the fiscal cliff happens i think that if it actually does come to pass and we...
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the point piper of death sends america over the fiscal cliff. this is the truth. elite and. the only. me it is easy to be. deadly rivals for decades. if a good fifteen thousand people killing each other in any other country there would be still a. lot of. self-imposed out costs from society i will cut myself am i going to my brother understand my lawn mowing. going to leave. the call of my anger and my frustration. got. into the dome. two of the most violent gangs in u.s. history. as a stall model kill or be killed with the colors matching the national flag. that this country uses violence when it reaches and then it legitimizes the violence. made in america. the legacy no one should be proud. of scrap metal littering pristine arctic landscape building stilton over their foundation pipes being black smoke over the snow covered peaks the traces of the soviet industrial activity on the bergen archipelago don't make a pretty picture the guiding principle here is the worst the better that can do nine hundred eighty bearings work was a burgeoning mining community. and was determi
the point piper of death sends america over the fiscal cliff. this is the truth. elite and. the only. me it is easy to be. deadly rivals for decades. if a good fifteen thousand people killing each other in any other country there would be still a. lot of. self-imposed out costs from society i will cut myself am i going to my brother understand my lawn mowing. going to leave. the call of my anger and my frustration. got. into the dome. two of the most violent gangs in u.s. history. as a stall...
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Dec 28, 2012
12/12
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CNBC
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goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> now, a new reuters poll shows americans blame republicans more than democrats or president obama for the fiscal crisis. and when asked who they held more response, 27% said the gop, 6% pointed to the dems and 30% said all of the above. for more on this, we're joined by christian schultz from barronberg bank. welcome. so we're going over the fiscal cliff. >> well, the consumer confidenc already be over the cliff in terms of confidence already. that might already be the firs
goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the...
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Dec 29, 2012
12/12
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FBC
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well, forget the fiscal cliff. washington might be sending cows off a cliff. ♪ this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just gotblacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guessam on the naughty list again? ho ho ho! pizza hut's $10 any pizza on deal is back.ist again? any pizza, toppings, sis. ...ten bucks. the meat lover's pizza. ...ten bucks. delivery, dine in or carry. ...out of this world pizza. pizza hut's $10 any pizza deal is back. now, that's how you make it great. ♪ tom: washington still fighting over the debt deal. farmers are worried about dairy deal. the farm bill is set to expire at the end of the year along with everything else that is going on. the senate agricultural committ
well, forget the fiscal cliff. washington might be sending cows off a cliff. ♪ this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just gotblacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet?...
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Dec 18, 2012
12/12
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CNBC
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hopes that that deal on the fiscal cliff would be reached stateside. green across the board, but a lot of regional factors that play, as well, in japan. the shen zinzo abe trade is stin play. the kospi, a little caution here. the kospi now sitting shy at about seven points from that 2,000 thresholds. grater china markets, these were volatile today. about .1%. this market has been rallying over the last few weeks. for the month of december, its up nearly 10%. there's skepticism over whether it can last. keep in mind, this is still the worst performing market in asia under water to the tune of less than 2% now. ia is in focus after aig sold its stake for about $6.5 billion. aia fell, but not too much because this was flagged, of course. in australia, the asx 200 at a new three-month high. we had minutes from the reserve bank of australia giving hope to market watchers that we could see some interest rate cuts next year. the sensex up .6% at the moment after a disappointing announcement from the reserve bank of india. back to you, kelly. >> thank you so m
hopes that that deal on the fiscal cliff would be reached stateside. green across the board, but a lot of regional factors that play, as well, in japan. the shen zinzo abe trade is stin play. the kospi, a little caution here. the kospi now sitting shy at about seven points from that 2,000 thresholds. grater china markets, these were volatile today. about .1%. this market has been rallying over the last few weeks. for the month of december, its up nearly 10%. there's skepticism over whether it...
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Nov 26, 2012
11/12
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CNBC
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., congress returns from a thanksgiving break he with talks to resolve the fiscal cliff. with no action by lawmakers and president obama, around 600 billion in tax hikes a and spending cuts would take effect in january. republicans and democrats are still in odds over the cause to raise taxes on the wealthiest and cutting on programs like medicare. but both sides saying they're willing to compromise. >> you have to raise additional revenues. there are ways of doing that. >> republicans always put revenue on the table. democrats always promise to cut spending. we never cut spending. what i'm looking for is more revenue for entitlement reform. >> the house speaker has called for a short term fix to overt the fiscal cliff so congress can work on a bigger deal in 2013. they naed to cut out a package that includes revenue hikes and spending cuts by the end of the year. >> americans have been out shopping early and often. almost 140 million kmers hit the stores or shopped online between thursday and sunday. that's up 6% from last year. >> almost a quarter billion shoppers will
., congress returns from a thanksgiving break he with talks to resolve the fiscal cliff. with no action by lawmakers and president obama, around 600 billion in tax hikes a and spending cuts would take effect in january. republicans and democrats are still in odds over the cause to raise taxes on the wealthiest and cutting on programs like medicare. but both sides saying they're willing to compromise. >> you have to raise additional revenues. there are ways of doing that. >>...
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Nov 11, 2012
11/12
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CNNW
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you look at the fiscal cliff. that's 7 trillion in ten years with no thought, no nuance, no kind of strategy about what's the best for america -- >> it's a sledgehammer. >> instead of a big dull hatchet, we need a scalpel with a bunch of surgeons. and congress is sitting there with saying they're going to get there. and that's bad. >> your solution is a lot more surgical. as david said, he went around the country and talked to people, and i found the same thing when i was on the cnn express on that bus trip, people understand what this means. they understand that we have to cut back on our spending but they are concerned about the lack of sophistication with which washington is handling this. >> yeah, but when? i get so sick of this. everybody says we have to cut spending. even my good friend david walker who i have so much respect for. david, when are we going to cut the spending? the answer always seems to be we'll do it next year or the year after that. it's not such a bad thing if we start now. i'm not so oppo
you look at the fiscal cliff. that's 7 trillion in ten years with no thought, no nuance, no kind of strategy about what's the best for america -- >> it's a sledgehammer. >> instead of a big dull hatchet, we need a scalpel with a bunch of surgeons. and congress is sitting there with saying they're going to get there. and that's bad. >> your solution is a lot more surgical. as david said, he went around the country and talked to people, and i found the same thing when i was on...
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my next guest says the fiscal cliff is simply y2k fear. joining me now is a chief investment officer. we have had other people talk about it similar to y2k. why do you feel that it is not something to worry about right now, from an investor standpoint. >> first, i think the deal is already settled in was settled a while back. everyone who has negotiated knows that is what goes on. from an investor point of view, i think you will find that the tax rates don't go crazy like everyone thinks. the dividend taxes, for example, you will have 23.5%. all of these captains of industries, what happens when it turned and looked around and say it really was not such a big thing. what will they do? will they go away from dividends and not have anything that has interest. liz: even with a potentially higher tax rate, you are still getting more than 1.6% or 1.7%. >> exactly. look at how many times in history we have had higher dividend taxes. the rate will hit around 20%. it could go as high as 36 or 39%. with that said, 200 companies, roughly, are accele
my next guest says the fiscal cliff is simply y2k fear. joining me now is a chief investment officer. we have had other people talk about it similar to y2k. why do you feel that it is not something to worry about right now, from an investor standpoint. >> first, i think the deal is already settled in was settled a while back. everyone who has negotiated knows that is what goes on. from an investor point of view, i think you will find that the tax rates don't go crazy like everyone thinks....
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Dec 11, 2012
12/12
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CNBC
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fiscal cliff. >>> gains for most european stocks yesterday outside of italy. and we sort of continued that trend today. the xetra dax just about on its 52-week high. the cac 40 hit a 52-week high yesterday. the xetra dax up around .the %. yesterday, we saw a real back up in yields at the ten-year level sustained for italy. really across the curve. today, we're seeing a bit of a rebound in place. yield falling 5.55%. italy, down to 4.8%, just about. bund yield is moving a little higher. pretty much a mirror image of what we were looking at yesterday, ross. >> tourism in the region has declined, but how badly has the travel sector been hit? the value of tourism as an industry still represents 5% of gdp. but european market share continues to fall off in the last decade, for more, we have the ceo of the european travel commission joining us. why have we seen europe shares of the global market? >> this is a normal process. new destinations for lastin america, korean nations, they have been improving in
fiscal cliff. >>> gains for most european stocks yesterday outside of italy. and we sort of continued that trend today. the xetra dax just about on its 52-week high. the cac 40 hit a 52-week high yesterday. the xetra dax up around .the %. yesterday, we saw a real back up in yields at the ten-year level sustained for italy. really across the curve. today, we're seeing a bit of a rebound in place. yield falling 5.55%. italy, down to 4.8%, just about. bund yield is moving a little higher....
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Nov 21, 2012
11/12
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KRCB
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he added avoiding a fiscal cliff is essential for the american economy. bernanke says a plan for resolving the nation's longer term budgetary issues without harming recovery could make 2013 a very good year for americans. japan's trade balance for october sank into the red for a fourth straight month. exports plunged due to slowdown in the global economy and tensions over disputed islands with china. finance ministry officials released preliminary figures shortly before the financial markets opened. last month's deficit came to about $6.7 billion. exports fell by 6.5% from a year earlier. that's in yen terms. japan's exports have fallen for five months in a row. cars and steal led the drop last month. imports also fell by 1.6% from a year earlier. now, by dtination europe tumbled by 20% as the region's debt crisis continues to dampen demand. exports to china fell by over 11.5% and anti-japan sentiment dented demand for japanese goods. now let's get a check on the markets. on the tokyo foreign exchange, the dollar is gaining ground against the yen hitting
he added avoiding a fiscal cliff is essential for the american economy. bernanke says a plan for resolving the nation's longer term budgetary issues without harming recovery could make 2013 a very good year for americans. japan's trade balance for october sank into the red for a fourth straight month. exports plunged due to slowdown in the global economy and tensions over disputed islands with china. finance ministry officials released preliminary figures shortly before the financial markets...
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Nov 10, 2012
11/12
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CNNW
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you look at the fiscal cliff. that is $7 trillion in ten years with no thought, no nuance, no kind of strategy about what's the best for america. >> it's a sledgehammer. >> it's a big, dull hatchet when we need a sexual pep a a bunch of surgeons. that's the problem here. they need -- going off the fiscal cliff, and it is popular now to say maybe we should go off for a while -- >> that is gaining popularity. stephen moore, you and david have really spent a lot of time on this. your approaches to this are a little more certain. a lot more surgical. isn't that problem though, stephen? as david said, went around the country and talked to people. i found the same thing when i was on the cnn express on that bus trip. people understand what this means. they understand that we have to cut back on our spending. they are concerned about the lack of sophistication with which washington is handling this. >> yeah, but when? look, i get so sick of it. everybody says we have to cut spending. even my good friend david walker who
you look at the fiscal cliff. that is $7 trillion in ten years with no thought, no nuance, no kind of strategy about what's the best for america. >> it's a sledgehammer. >> it's a big, dull hatchet when we need a sexual pep a a bunch of surgeons. that's the problem here. they need -- going off the fiscal cliff, and it is popular now to say maybe we should go off for a while -- >> that is gaining popularity. stephen moore, you and david have really spent a lot of time on this....
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Jul 20, 2012
07/12
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CNBC
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they don't want to see it with the fiscal cliff or with a debt ceiling. i believe markets would respond well to a plan that says we don't want to do this -- >> but we're not doing that. at the end of the day we're not doing that. how are we con vipsivincing the markets we have a plan? i have not heard anybody discuss the fiscal cliff. >> the senate democrats have a plan, by the way, the senate democratic plan, dividend taxation goes to 20% not 44%. there is a -- this is a moving -- politicians are beginning to work from both sides on a plan to reverse this cliff as soon as we go over it. >> the house has passed a bill that gets rid of the sequester, and that's what the super committee was supposed to do, check that box, they will extend the current tax laws, check that box, that's it. that's a recipe to avoid this problem. we just need for the senate and the white house to wake up and do that aes well. >> i think that's a big can kick. >> but they say they will take dividends to 20% only if. there is no movement in tax cut extensions for the upper end. so
they don't want to see it with the fiscal cliff or with a debt ceiling. i believe markets would respond well to a plan that says we don't want to do this -- >> but we're not doing that. at the end of the day we're not doing that. how are we con vipsivincing the markets we have a plan? i have not heard anybody discuss the fiscal cliff. >> the senate democrats have a plan, by the way, the senate democratic plan, dividend taxation goes to 20% not 44%. there is a -- this is a moving --...
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Dec 19, 2012
12/12
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CNBC
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rallied yesterday on hopes for a resolution of the fiscal cliff. but in the meantime, we haven't gotten one today. doesn't seem to be stopping the mood. markets looking to rally again. the dow industrial average pointed higher by about 25 points. remarkably the dow i believe, yes, less than 6% away from its all-time nominal high in october of 2011. the nasdaq, s&p also pointed higher. the nasdaq was the outperformer yesterday, up 1.5%. apple up almost double that. take a look at what's happening in the trading session across europe and the world. the cnbc ftse global 300 shows we're up .3%. it's been green arrows across the board. european markets for the most part higher led by spain's ibex. up 1.5%. the ftse mib adding .7% in italy. the xetra dax, outperformer of the year, adding .3%. we mentioned that business sentiment in germany held firm, helping to support sentiment. the ftse 100 up more than .5% as it edges closer to the 6,000 levels. the bank of england showed there was david miles pushing for more quantitative easing in december. the rest
rallied yesterday on hopes for a resolution of the fiscal cliff. but in the meantime, we haven't gotten one today. doesn't seem to be stopping the mood. markets looking to rally again. the dow industrial average pointed higher by about 25 points. remarkably the dow i believe, yes, less than 6% away from its all-time nominal high in october of 2011. the nasdaq, s&p also pointed higher. the nasdaq was the outperformer yesterday, up 1.5%. apple up almost double that. take a look at what's...
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Nov 17, 2012
11/12
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CSPAN
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for some that we represent, it is a fiscal cliff. for others, it is a sliding down from a more comfortable slow. we are there and leading across the aisle to say that we hope that there'll be an agreement in these negotiations that they go ahead and stop any hike on taxes to the middle class and the working class. that has been agreed upon in the house. that has been agreed upon by all the groups as well as the house of representatives. first, start with what we agreed with so that people despite their political and partisan views can face the holidays without an increase in taxes on middle class and working people. at the same time, we do not want those who are most vulnerable to be on the chopping block. i think the president heard us loud and clear. i think that the president was very open and generous with hearing from each and every one of us. i think the collective message and the consensus was to build on where we are. middle class people, working class people should not be facing the holidays not knowing whether or not they w
for some that we represent, it is a fiscal cliff. for others, it is a sliding down from a more comfortable slow. we are there and leading across the aisle to say that we hope that there'll be an agreement in these negotiations that they go ahead and stop any hike on taxes to the middle class and the working class. that has been agreed upon in the house. that has been agreed upon by all the groups as well as the house of representatives. first, start with what we agreed with so that people...
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Jul 1, 2012
07/12
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CNNW
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storm is actually a cliff, a fiscal cliff. that is the expiration of some tax cuts, some of which you'll know as the bush tax cuts, and some other benefits on midnight on december 31st if congress does nothing. i don't know about you, but i am pretty concerned about what this all adds up to. if you're not, that's good for america. you'll keep spending and if i'm wrong, then i'm wrong. i'll wear that. but i'm not running for office. my job is to arm you with the truth about what is happening in this economy. people's futures are at stake and now more than ever you need to be informed. joining me to discuss our best line of defense against this storm is stephen moore, editorial writer for "the wall street journal." diane swunk, mohammed alarian, ceo of pimco, the world's largest investor in bonds. romney-obama, romney-obama. who cares? it truly doesn't matter who is going to become the president of the united states. because if they win, the things that have to be done to fend off this storm have got to be done in congress and n
storm is actually a cliff, a fiscal cliff. that is the expiration of some tax cuts, some of which you'll know as the bush tax cuts, and some other benefits on midnight on december 31st if congress does nothing. i don't know about you, but i am pretty concerned about what this all adds up to. if you're not, that's good for america. you'll keep spending and if i'm wrong, then i'm wrong. i'll wear that. but i'm not running for office. my job is to arm you with the truth about what is happening in...
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53
Dec 13, 2012
12/12
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first, i want to ask you, bob, how much of this is due to the fed as opposed to the fiscal cliff. >> i'm not discounting the fiscal cliff but i think a lot of this is sell on the news related to the federal reserve. we have seen this news before. remember, take a look at the s&p 500. i don't think it is a coincidence we hit the highs of year september 14th. that's the day after the fed meeting when they announced quantitative ease meetings. they bought into the fed meeting then started selling immediately after. we saw thmovie before and they e doing this before. two months high on the dow jones industrial, a two-month chart of the dow jones industrial average, and you will see. there are the highs. and we are drifting lower here. i put more of this on sell on the news of the fed. spike and bond yields got a lot of e-mails talking about inflation in 2013. this has not been a successful trade but number of the etfs exist out there. spider gold trust with the classic hedge against inflation. one to five-year tips. very big etf. then you can even bet against long-term treasuries with th
first, i want to ask you, bob, how much of this is due to the fed as opposed to the fiscal cliff. >> i'm not discounting the fiscal cliff but i think a lot of this is sell on the news related to the federal reserve. we have seen this news before. remember, take a look at the s&p 500. i don't think it is a coincidence we hit the highs of year september 14th. that's the day after the fed meeting when they announced quantitative ease meetings. they bought into the fed meeting then...
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Jun 24, 2012
06/12
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WBAL
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are they going to address this fiscal cliff? >> you know, i certainly hope so. for those of us in the states, we realize how dependent with what goes on at a national level, we are certainly expecting them to have the same kind of functional relationships that we have. >> governor, it's great to have you on the program. >> thank you. >> governor jack markell. up next on "the wall street journal" report, i take a walk through harlem. feeding the needs of a changing neighborhood. neighborhood. >> i grew up in the ♪ ♪ we all need it. to move. to keep warm. to keep us fed. to make clay piggies. but to keep doing these things in the future... at shell, we believe the world needs a broader mix of energies. that's why we're supplying natural gas to generate cleaner electricity... that has around 50% fewer co2 emissions than coal. and it's also why, with our partner in brazil, shell is producing ethanol - a biofuel made from renewable sugarcane. ♪ >>a minute, mom! let's broaden the world's energy mix. let's go. >>> a renaissance in harlem is bringing independently
are they going to address this fiscal cliff? >> you know, i certainly hope so. for those of us in the states, we realize how dependent with what goes on at a national level, we are certainly expecting them to have the same kind of functional relationships that we have. >> governor, it's great to have you on the program. >> thank you. >> governor jack markell. up next on "the wall street journal" report, i take a walk through harlem. feeding the needs of a...
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Nov 28, 2012
11/12
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KCSM
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the document warns the fiscal cliff would not only deal a heavy blow to the u.s. but might drag the global economy into recession. as for japan, the oect downgraded the outlook from 1.5% to 0.7%. they cited weak domestic demand. analysts urged the nation to compile detailed reliable plans for fiscal reform. u.s. consumer sentiment hit the highest level in more than four and a half years. researchers at analytics form the conference board say the consumer confidence index rose for a third straight month. the numbers rose to 73.7 in november, up from 73.1 in october. that's against a base value of 100 set in 1985. they say that the christmas shopping season started smoothly last weekend and the analysts are still concerned about the impact the fiscal cliff may have on consumer sentiment. the index is a key indicator of recovery and consumer spending which accounts for 70% of u.s. gross domestic product. now let's get a check on the markets. japanese stock prices are trading lower after four straight days of gains in the nikkei average is currently down half a percen
the document warns the fiscal cliff would not only deal a heavy blow to the u.s. but might drag the global economy into recession. as for japan, the oect downgraded the outlook from 1.5% to 0.7%. they cited weak domestic demand. analysts urged the nation to compile detailed reliable plans for fiscal reform. u.s. consumer sentiment hit the highest level in more than four and a half years. researchers at analytics form the conference board say the consumer confidence index rose for a third...
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Oct 11, 2012
10/12
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CSPAN
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how much are you planning for the fiscal cliff? >> that's the big deal. when the eurozone crisis happens, we spend $50-$100 million preparing. be visible club does not quite that because it is more critical double what the outcome will be. we have a fiscal cliff command center, a war room. we understand all of it and we will be prepared. jpmorgan will survive its fiscal cliff. i just think it's terrible policy to allow it to get close. is it bad that there's just so much gdp? there are always potential outcomes and i would defy anyone to ask for more. let's see. let's try to avoid that. it will not happen midnight on december 31st. they want to start to make decisions with the margin. don't hire, don't build, wait an d see. that's a recession. >> do you agree that it is less of a cliff and more of a slope? >> probably, yeah. conduct an omnibus deal. they will kick the can further down the road. how worried are you that the united states cannot do something on the order of $4 trillion over a decade kind of comprehensive deal. how worried are you that sudde
how much are you planning for the fiscal cliff? >> that's the big deal. when the eurozone crisis happens, we spend $50-$100 million preparing. be visible club does not quite that because it is more critical double what the outcome will be. we have a fiscal cliff command center, a war room. we understand all of it and we will be prepared. jpmorgan will survive its fiscal cliff. i just think it's terrible policy to allow it to get close. is it bad that there's just so much gdp? there are...
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Nov 14, 2012
11/12
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WETA
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there are always two sides of the fiscal cliff. there is the tax side and the spending side. over 10 years, 1.2 trillion dollars, but the question is, does the president support a temporary postponement? that is what i want to get to, because there is not going to be enough time unless you postponed. >> did you sense he was open to some kind of a deal with republicans? where does the deal lied? >> they did two steps forward, one step back. then he says he is open to the idea of having rates stay where they are apt, but finding the money by closing loopholes, so- called tax expenditures. the idea but it was open to all ideas. he wants to send a message that he is willing to negotiate. >> are you worried about market tumble? today the white house was down? >> the economic and visors, everyone is concerned about what happened. nobody is quite certain about how markets react. one thing that is clear if we do go over, the president will have a stronger negotiating the president has a window after we go over. it is only for a couple of weeks, not much longer. >> do we get a deal be
there are always two sides of the fiscal cliff. there is the tax side and the spending side. over 10 years, 1.2 trillion dollars, but the question is, does the president support a temporary postponement? that is what i want to get to, because there is not going to be enough time unless you postponed. >> did you sense he was open to some kind of a deal with republicans? where does the deal lied? >> they did two steps forward, one step back. then he says he is open to the idea of...
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Jun 24, 2012
06/12
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KNTV
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are they going to address this fiscal cliff? >> you know, i certainly hope so. for those of us in the states, we realize how dependent with what goes on at a national level, we are certainly expecting them to have the same kind of functional relationships that we have. >> governor, it's great to have you on the program. >> thank you. >> governor jack markell. up next on "the wall street journal" report, i take a walk through harlem. feeding the needs of a changing neighborhood. >> i g ♪ [ male announcer ] for our families... our neighbors... and our communities... america's beverage companies have created a wide range of new choices. developing smaller portion sizes and more low- & no-calorie beverages... adding clear calorie labels so you know exactly what you're choosing... and in schools, replacing full-calorie soft drinks with lower-calorie options. with more choices and fewer calories, america's beverage companies are delivering. with more♪ oices and fewer calories, ♪ we all need it. to move. to keep warm. to keep us fed. to make clay piggies. but to
are they going to address this fiscal cliff? >> you know, i certainly hope so. for those of us in the states, we realize how dependent with what goes on at a national level, we are certainly expecting them to have the same kind of functional relationships that we have. >> governor, it's great to have you on the program. >> thank you. >> governor jack markell. up next on "the wall street journal" report, i take a walk through harlem. feeding the needs of a...
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Dec 3, 2012
12/12
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CNBC
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good data on one fis, fiscal cliff fears on the other. if we hit the cliff, is defense done as an investment? we'll find out. >>> plus the latest on why fast food workers are working to unionize and maybe even strike across america. >>> and the scary story about the surge in spooks. how spies apparently are everywhere now, mandy. >> and you wouldn't even know. >>> let's load you up on some vital stats. firstly, december is historically the best performing month of the year but today the dow and s&p are down for the first time in four days. dow was up 61 points before the disappointing ism data at 10:00 a.m. this morning. it has never recovered. s&p is flirting with a three-week high even though it is slightly lower. nasdaq touched a one-month high earlier on. >>> never doubt the power of of the american consumer is what we always say here on "street signs." holiday shopping season is in full swing and that, my good people, has propelled the s&p retail next to a record high early again today, though as we speak it is slightly lower. let's
good data on one fis, fiscal cliff fears on the other. if we hit the cliff, is defense done as an investment? we'll find out. >>> plus the latest on why fast food workers are working to unionize and maybe even strike across america. >>> and the scary story about the surge in spooks. how spies apparently are everywhere now, mandy. >> and you wouldn't even know. >>> let's load you up on some vital stats. firstly, december is historically the best performing month...
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Sep 27, 2012
09/12
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CNBC
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rickntelli, the fiscal cliff keeps coming up. that's one of the biggest issues in terms of keeping businesses from making any real decisions here, putting money to work, and it's also the highlight going into the election. >> it is. i guess the real irony is even if the fiscal cliff didn't exist, the outlook economically, both domestically and globally, is deteriorating. really, it's a bit of a double whammy. i'll go back to what i said the last time we discussed this an hour ago. if you look at the 21 weeks from mid-october to march of 2000 when the nasdaq crashed, in those 21 weeks, the nasdaq almost doubled in price and was up 19 of those 21 weeks. so can this market keep going up? yes. if you sell it early, you're not going to make money you would have made? probably. in the end, are you going to know exactly when to get out because the economic fundamentals surely will catch up with stocks. >> i agree with you, rick. john taft, let me ask you about your clients. you've got to put money to work in this environment. how do you
rickntelli, the fiscal cliff keeps coming up. that's one of the biggest issues in terms of keeping businesses from making any real decisions here, putting money to work, and it's also the highlight going into the election. >> it is. i guess the real irony is even if the fiscal cliff didn't exist, the outlook economically, both domestically and globally, is deteriorating. really, it's a bit of a double whammy. i'll go back to what i said the last time we discussed this an hour ago. if you...
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273
Oct 2, 2012
10/12
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CNBC
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senate leaders are reportedly working on a plan to avoid the so-called fiscal cliff. "new york times" says they'll try to use the lame duck session after the elections to reach a comprehensive deal to cut the definite set inste deficit. they'll agree on a specific target, likely around $4 trillion over ten years. they would vote to to put off the automatic tax hikes and spending cuts set to take effect in january. but with a deficit cutting down payment to signal how serious they are. mitt rom if i meanwhile is planning a final day of preparation for tomorrow's presidential debate in colorado. the republican nominee arrived in denver monday night where he was introduced at a rally by the former broncos quarterback john elway. he told supporters he thinks the debates will be about something bigger than who appears to be the winner or loser. you can tune into cnbc for full coverage of the presidential debate. it is wednesday night tomorrow from 8:00 to 11:00 p.m. eastern. and we also want to hear from you, you can tweet us your thoughts on the election using #cnbc 2012.
senate leaders are reportedly working on a plan to avoid the so-called fiscal cliff. "new york times" says they'll try to use the lame duck session after the elections to reach a comprehensive deal to cut the definite set inste deficit. they'll agree on a specific target, likely around $4 trillion over ten years. they would vote to to put off the automatic tax hikes and spending cuts set to take effect in january. but with a deficit cutting down payment to signal how serious they are....
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Sep 25, 2012
09/12
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CNBC
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in terms of the fiscal cliff. we just heard eli broad saying they're going to get a grand bargain together in washington. europe is one problem. the other problem is the u.s. >> it is. it's a big problem, maria. there's so much happening come the end of the year. all of the sudden we're going to have a grand bargain here in a lame duck session after the president is either re-elect or governor romney selected. all the sudden we expect to have this big grand plan happen. we haven't had a plan in three years. we can't even pass a budget. >> this administration has been unable to pass a budget. >> unable to pass a budget. continuing resolutions for three years. to say they're going to negotiate a grand plan in a short period of time, with all do respect to eli, i don't buy it. >> this is really important. was the president's budget so, you know, sort of spendthrift that he couldn't even get his own party to pass it? >> well, i mean, think about that. that's very important. in '08 and '09 when he had the administratio
in terms of the fiscal cliff. we just heard eli broad saying they're going to get a grand bargain together in washington. europe is one problem. the other problem is the u.s. >> it is. it's a big problem, maria. there's so much happening come the end of the year. all of the sudden we're going to have a grand bargain here in a lame duck session after the president is either re-elect or governor romney selected. all the sudden we expect to have this big grand plan happen. we haven't had a...
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Dec 28, 2012
12/12
by
KCSM
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eye 163
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will fall over that fiscal cliff. it would just be too great, the consequences to dyer, not just for the united states, but for the world economy, too, also for germany, but people do not know, and they do not like the prospect of a decision may be taking more time, may be even reaching into the year 2013. it would be a pretty bad start, a rumbly start to the new year, people think. the trading was careful. the shares lost some momentum in late trading, late european trading when the u.s. began in the negative zone, and the fact that people were nervous also demonstrated by a lot of money going into the suppose it's safe haven of german bonds and into gold. >> let's take a look at the latest market numbers for you, starting in germany. the dax ended the day just a tad up. euro stoxx 50 also made gains on the day. crossing over to new york, the picture is quite different. a lot of pessimism there. the euro gaining some ground against the dollar. it is not the only source of uncertainty in the world economy. >> a leadin
will fall over that fiscal cliff. it would just be too great, the consequences to dyer, not just for the united states, but for the world economy, too, also for germany, but people do not know, and they do not like the prospect of a decision may be taking more time, may be even reaching into the year 2013. it would be a pretty bad start, a rumbly start to the new year, people think. the trading was careful. the shares lost some momentum in late trading, late european trading when the u.s. began...
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Dec 31, 2012
12/12
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WETA
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eye 200
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president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand. >> we are upon the fiscal cliff. will we need to focus on is how we find that common ground. ira by -- i believe republicans and democrats alike want to put us on the course to fiscal discipline. >> we are running at a time. americans are threatened with a tax hike in just few hours. i hope we can keep in mind that our single most important goal is to protect middle-class families. >> democrats and republicans in congress have to get this done but they are not there yet. they are closed but not there y
president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people...
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223
Dec 3, 2012
12/12
by
CNBC
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eye 223
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hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff at some point in these negotiations. is it a terminal standoff? when does somebody blink? >> it's not a matter of who will blink or not. i think that the republicans are trying to go tit for tat with the president. you have to realize that the president has the bully pulpit and the ability to command media. so the republicans feel the need to respond to every maneuver. i think fran
hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a...
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48
Aug 29, 2012
08/12
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CNBC
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number one, the fiscal cliff and what the economic impact could be if we did get a full fiscal cliff. but also, looked at the impact of various industries and specific companies. and the second thing we tackled was looking at the business outlook, the outlook, what corporates are saying now about the current outlook and how it compares to 2008. with regard to your question, if it hits in full effect and we don't think it will, we think there is a 15% likelihood that fiscal cliff will hit, and i can go to that in some detail -- >> that's fine, 15%. what would the impact be on gdp? >> for first quarter of 2013, our economist neil sauce thinks real gdp could be negative 5%. >> holy smokes! >> and potentially negative 3% for q2 before we eventually see a bit of a recovery in the fourth quarter of next year. that's significantly worse forecast than what anybody is expecting. that's not our base forecast. by the way. >> sure. what do you do in that case? give me a good idea if you want to prepare your portfolio for that possibility. >> sure, so a couple of things. by the sector level, not t
number one, the fiscal cliff and what the economic impact could be if we did get a full fiscal cliff. but also, looked at the impact of various industries and specific companies. and the second thing we tackled was looking at the business outlook, the outlook, what corporates are saying now about the current outlook and how it compares to 2008. with regard to your question, if it hits in full effect and we don't think it will, we think there is a 15% likelihood that fiscal cliff will hit, and i...
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with concern over the fiscal cliff dominating headlines does a forecast about the u.s. as energy outlook represent tailend well joining us from our new york studio is peter chair founder of t.f. market advisors so thank you so much were it's so nice to get a broad multitude of perspectives on the show today thanks for being here peter thanks yes so we just heard kind of an on the ground perspective insider's perspective as to what's been going on in greece recently with the votes with the economy with just kind of the political and economic picture but from your perspective from an investment perspective what do you think is going on with greece in terms of its outlook as i know that you think that the troika might actually be closer to considering a default and then some would think and what does this mean for other countries larger countries like italy and spain right i think they really have to get their act together and i think just like the previous guest was talking about there's still too much denial there's the troika seem somehow to think that greece should pay
with concern over the fiscal cliff dominating headlines does a forecast about the u.s. as energy outlook represent tailend well joining us from our new york studio is peter chair founder of t.f. market advisors so thank you so much were it's so nice to get a broad multitude of perspectives on the show today thanks for being here peter thanks yes so we just heard kind of an on the ground perspective insider's perspective as to what's been going on in greece recently with the votes with the...
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151
Dec 5, 2012
12/12
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CNBC
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fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.
fiscal cliff negotiations appear to be going nowhere. today president obama will meet with members of the business round table. plus, on the economic calendar, the november adp report on employment is due at 8:15 eastern. u.s. equity futures at this hour are indicated higher. not much happened yesterday. it's wednesday, december 5th, 2012, and "squawk box" begins right now.